The case involves an application filed by Prabhat Steel Traders Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Sai Steel Industries India Pvt. Ltd, the Corporate Debtor. The application was filed due to a total debt of Rs. 5,97,09,566/-. A demand notice was served to the Corporate Debtor, and the Operational Creditor claimed that goods were supplied as per the invoices, with the description of the goods being "Hot Rolled& Pilled Round Bars". The debt amount was allegedly confirmed by the debtor as per the statement of account.
Prabhat Steel Traders Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Sai Steel Industries India Pvt. Ltd, the Corporate Debtor. The application was based on a total debt of Rs. 5,97,09,566/-, comprising a principal amount of Rs. 2,05,28,636.00 and interest of Rs. 3,91,80,930.00 calculated at 21% per annum until November 30, 2018. The Operational Creditor claimed that a 'Supply of goods Order' was placed by the Corporate Debtor, and goods described as "Hot Rolled& Pilled Round Bars" were supplied. A demand notice dated 09.06.2018 was served upon the Respondent/debtor. The debt amount was allegedly confirmed
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A Petition on Form No.…
A Demand Notice was served upon the…
The case involves an application filed by Prabhat Steel Traders Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Sai Steel Industries India Pvt. Ltd, the Corporate Debtor. The application was filed due to a total debt of Rs. 5,97,09,566/-. A demand notice was served to the Corporate Debtor, and the Operational Creditor claimed that goods were supplied as per the invoices, with the description of the goods being "Hot Rolled& Pilled Round Bars". The debt amount was allegedly confirmed by the debtor as per the statement of account.
Prabhat Steel Traders Private Limited, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Shree Sai Steel Industries India Pvt. Ltd, the Corporate Debtor. The application was based on a total debt of Rs. 5,97,09,566/-, comprising a principal amount of Rs. 2,05,28,636.00 and interest of Rs. 3,91,80,930.00 calculated at 21% per annum until November 30, 2018. The Operational Creditor claimed that a 'Supply of goods Order' was placed by the Corporate Debtor, and goods described as "Hot Rolled& Pilled Round Bars" were supplied. A demand notice dated 09.06.2018 was served upon the Respondent/debtor. The debt amount was allegedly confirmed
…A Petition on Form No.…
A Demand Notice was served upon the…